Jennifer Lopez's nipple nearly stole the show at the 84th Annual Academy Awards while presenting with Cameron Diaz, 39 -- or did it?

Wearing a cleavage-baring Zuhair Murad gown, many wondered if the "American Idol" judge, 42, had an accidental wardrobe malfunction while co-presenting the Oscars for Best Costume Design and Best Makeup.

Lopez's stylist Mairel Haenn denied Lopez gave an inadvertent peep show during the telecast, telling EXTRA: "The dress fit perfectly to her every inch. There were cups built in and there's no chance that there were any, how do you say? 'slips.'"

The "On the Floor" singer changed into another daring look by Zuhair Murad for the Vanity Fair Oscar party at Sunset Tower in West Hollywood, Calif. Lopez accessorized her plunging sequined gown with H Stern jewels and a Swarovski bag.

Tell Us: Are you convinced Jennifer Lopez stayed covered while presenting at the Academy Awards?